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GFL Environmental Inc. Announces Direct Share Buyback of 17,050,298 Subordinate Voting Shares from BC Partners and Intention to Repurchase up to 7,056,027 Subordinate Voting Shares in Secondary Offering
GFL Environmental Inc. Announces Direct Share Buyback of 17,050,298 Subordinate Voting Shares fro...
About this update from Gfl Environmental Inc
[{"type":"text","content":"\n\n\n\n GFL Environmental Inc. Announces Direct Share Buyback of 17,050,298 Subordinate Voting Shares from BC Partners and Intention to Repurchase up to 7,056,027 Subordinate Voting Shares in Secondary Offering\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntaj{\nTEXT-ALIGN: JUSTIFY\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n VAUGHAN, ON\n \n\n ,\n \n\n March 25, 2025\n \n\n /CNW/ - GFL Environmental Inc. (NYSE: GFL) (TSX: GFL) (\"GFL\" or the \"Company\") announced today that it has purchased for cancellation 17,050,298 subordinate voting shares (the \"Purchased Shares\") directly from funds managed by BC Partners (the \"Selling Shareholder\") at a net price of\n \n US$46.92\n \n per share, representing a discount of approximately 3.5% to the closing price of the Company's subordinate voting shares on the New York Stock Exchange on\n \n March 25, 2025\n \n (the \"Share Repurchase Transaction\"). The Share Repurchase Transaction was completed pursuant to a definitive share purchase agreement entered into between the Company and the Selling Shareholder. Pursuant to the terms of the agreement, the Selling Shareholder has agreed to a customary lock-up in respect of its remaining subordinate voting shares, for a six-month period.\n \n\n\n\n\n\n\n\n\n GFL also announced today that it has agreed to purchase for cancellation up to 7,056,027 subordinate voting shares from RBC Dominion Securities Inc. under the secondary offering of 15,739,769 subordinate voting shares (the \"Secondary Offering\") announced earlier today by Ontario Teachers' Pension Plan Board, GFL Borrower II (Cayman) LP, Poole Private Capital, LLC, and entities affiliated with HPS Investment Partners, LLC, subject to determination of the offering price (the \"Secondary Offering Transaction\").\n \n\n The Share Repurchase Transaction and Secondary Offering Transaction are consistent with the Company's previously announced plan to use approximately\n \n $2.25 billion\n \n of the proceeds from the recent sale of its Environmental Services business to opportunistically repurchase subordinate voting shares, subje...